Any existing nonconforming lot or structure may remain as to current lot area, width, and depth until the subject property is developed. Development of such property shall conform to the requirements of this Chapter. A single lot shall be a minimum of one (1) acre in size. Any lot less than one (1) acre in size not under common ownership with adjacent properties already developed or being developed according to this Chapter shall be developed in accordance with the ITOD zone regulations. Development may proceed in phases so long as each phase meets applicable fire code requirements and has acceptable circulation and access.